Mercedes-Benz Plans to Invest €40 billion for Electrification
Mercedes-Benz continues to maintain its momentum in electrifying its vehicles before the decade ends to meet its imposed 2030 deadline. The automaker revealed last Thursday its €40 billion ($47 billion) plan to reach that goal. Mercedes also announced its acquisition of the UK-based electric company YASA. YASA and other existing partners will be utilized in setting up eight battery factories and one dedicated plant for the production of cells. One battery plant will be located in the US, four in Europe, and three in China. The three-pointed star marque didn’t say the exact areas for the factories but it hinted that they will be placed near its existing assembly plants…. Continue Reading »